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GOODWILL
 12 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL
The table below contains details related to the Company's goodwill:
 
 
June 30,
 
 
2017
 
2016
 
 
Gross
Carrying
Value (3)
 
Accumulated
Impairment (1)
 
Net
 
Gross
Carrying
Value (3)
 
Accumulated
Impairment (1)
 
Net
 
 
(Dollars in thousands)
Goodwill
 
$
670,648

 
$
(253,661
)
 
$
416,987

 
$
671,054

 
$
(253,661
)
 
$
417,393

_______________________________________________________________________________

(1)
The table below contains additional information regarding accumulated impairment losses:
Fiscal Year
 
Impairment Charge
 
Reporting Unit (2)
 
 
(Dollars in thousands)
 
 
2009
 
$
(41,661
)
 
International
2010
 
(35,277
)
 
North American Premium
2011
 
(74,100
)
 
North American Value
2012
 
(67,684
)
 
North American Premium
2014
 
(34,939
)
 
North American Premium
Total
 
$
(253,661
)
 
 

_______________________________________________________________________________
(2)
See Note 13 to the Consolidated Financial Statements.
(3)
The change in the gross carrying value of goodwill relates to foreign currency translation adjustments.
The table below contains details related to the Company's goodwill:
 
 
North American Value
 
North American Franchise
 
Consolidated
 
 
(Dollars in thousands)
Goodwill, net at June 30, 2015
 
$
189,925

 
$
229,028

 
$
418,953

Translation rate adjustments
 
(707
)
 
(853
)
 
(1,560
)
Goodwill, net at June 30, 2016
 
189,218

 
228,175

 
417,393

Translation rate adjustments
 
(63
)
 
(76
)
 
(139
)
Derecognition related to venditioned salons (1)
 
(267
)
 
—

 
(267
)
Goodwill, net at June 30, 2017
 
$
188,888

 
$
228,099

 
$
416,987

_______________________________________________________________________________
(1)
Goodwill is derecognized for salons sold to franchisees with positive cash flows. The amount of goodwill derecognized is determined by a fraction (the numerator of which is the EBITDA of the salon being sold and the denominator of which is the EBITDA of the North American Value reporting unit) that is applied to the total goodwill balance of the North American Value reporting unit.